ECONOMY

Tax Transparency: Algeria, 32nd signatory of Yaoundé Declaration

ALGIERS- Prime Minister and Minister of Finance Aymen Benabderrahmane took part Tuesday in a meeting with Zayda Manatta, the head of the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes, the ministry of Finance said in a statement.

"The virtual meeting comes after Algeria's joining the Global Forum," the statement said, adding that "Algeria has just joined the Declaration of Yaoundé, a significant African initiative in favour of transparency and exchange of information for tax purposes."

"As all the other members of the Global Forum, Algeria will participate on equal terms and is dedicated to fight tax evasion by the implementation of international standards known for transparency and exchange of information for tax purposes," the statement cited Benabderrahmane as saying at the meeting.

The Declaration of Yaoundé, initially signed by four countries in November 2017, encouraged the African Union to start a high-level discussion on tax cooperation and illicit financial flows, and their links with the mobilization of national resources, according to the statement.